charted:-litecoin-is-outperforming-major-altcoins,-why-dips-remain-attractive

Charted: Litecoin Is Outperforming Major Altcoins, Why Dips Remain Attractive

Litecoin designate is up over 10% and it broke the $80.00 resistance in opposition to the US Buck. LTC is consolidating gains and dips are more doubtless to be restricted below $78.00 and $76.50.

  • Litecoin started a solid lengthen above the $75.00 and $80.00 phases in opposition to the US Buck.
  • The worth traded to a new monthly excessive shut to $84.12 and settled above the 100 straightforward transferring common (4-hours).
  • There used to be a damage above a contracting triangle with resistance shut to $75.10 on the 4-hours chart of the LTC/USD pair (files feed from Kraken).
  • The worth may possibly possibly well moreover correct in the brief, nonetheless the bulls are more doubtless to remain packed with life shut to $78.00 and $76.50.

Litecoin Tag Rallies Another 10%

In the previous few days, there used to be a solid lengthen in bitcoin, Ethereum, ripple and litecoin in opposition to the US Buck. LTC designate outperformed only in the near previous with a necessary rally above the $75.00 resistance level.

The bulls gained energy, resulting in a damage above the $80.00 resistance level. The worth climbed over 10% and it even cleared the $82.00 resistance. There used to be also a damage above a contracting triangle with resistance shut to $75.10 on the 4-hours chart of the LTC/USD pair.

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Litecoin designate traded to a new monthly excessive shut to $84.12 and settled above the 100 straightforward transferring common (4-hours). It’s now consolidating gains above the $80.00 level. An preliminary toughen is shut to the $80.40 level. It’s shut to the 23.6% Fib retracement level of the most modern lengthen from the $Q68.35 swing low to $84.12 excessive.

Litecoin Price

Source: LTCUSD on TradingView.com

If there is a long decline, the designate may possibly possibly well moreover test the $76.50 toughen level (the most modern breakout zone). The 50% Fib retracement level of the most modern lengthen from the $Q68.35 swing low to $84.12 excessive will more than doubtless be shut to $76.24.

On the upside, the $83.50 and $84.00 phases are rapid hurdles. The main resistance is shut to $85.00, above which the designate may possibly possibly well moreover surge towards the $90.00 level.

Dips Supported in LTC?

It looks love dips may possibly possibly well moreover simply be restricted in litecoin below the $80.00 level. The first toughen sits at $78.0, nonetheless the necessary steal zone is doubtless forming shut to the $76.50 level.

Any further losses may possibly possibly well moreover simply possibly ship the designate towards the $72.00 toughen. The next necessary toughen is shut to a connecting bullish model line at $68.30 on the identical chart.

Technical indicators:

4-hours MACD – The MACD is slowly shedding momentum in the bullish zone.

4-hours RSI (Relative Energy Index) – The RSI for LTC/USD is in the meantime correcting decrease from the 70 level.

Predominant Enhance Ranges – $78.00 followed by $76.50.

Predominant Resistance Ranges – $85.00 and $90.00.

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